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Ciena CIEN Gross margin

Gross margin at other companies

Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
64.3%-0.9pp
Keysight Technologies logo
Keysight TechnologiesKEYS
63.7%+1.2pp
Celestica logo
CelesticaCLS
12%+1.3pp
Credo Technology Group Holding Ltd logo
Credo Technology Group Holding LtdCRDO
68%+3.3pp
Coherent logo
CoherentCOHR
36.8%+2.3pp
Astera Labs, Inc. logo
Astera Labs, Inc.ALAB
76%+0.2pp

Other financials

Income statement

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Revenue$1.6B+39.5%
Gross profit$691.6M+52.7%
Operating income$237.9M+624%
Net income$218.2M+2,333%
EPS (diluted)$1.49+2,383%

Balance sheet

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Cash & equivalents$1.0B+10.0%
Total debt$1.6B-0.8%
Total equity$2.9B+4.2%
Total assets$6.0B+6.7%

Cash flow

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Operating cash flow$259.7M+65.5%
CapEx$41.0M+42.8%
Free cash flow$218.7M+70.6%

Valuation

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Market cap$61.82B+716%
Enterprise value$62.35B+668%
P/E141×+68.8×
P/S11.1×+9.3×

Profitability

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Operating margin9.2%+4.5pp
Net margin7.9%+5.4pp

Returns & leverage

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Return on equity15.5%+11.8pp
Debt / equity0.5×0.0×
Current ratio2.7×-0.7×

Where this comes from

Calculated from Ciena’s reported figures.

Based on trailing twelve months.

The official record: Ciena’s 10-Q, filed June 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ciena's gross margin?
Ciena (CIEN) reported gross margin of 43% in Q1 2026.
How has Ciena's gross margin changed year-over-year?
Ciena's gross margin increased by 2.6% year-over-year, from 41.9% to 43%.
What is the long-term trend for Ciena's gross margin?
Over 4 years (2021 to 2025), Ciena's gross margin has grown at a -3.2% compound annual growth rate (CAGR), from 191.7% to 168.1%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.